IREN Shares Rise Following Reports of Multiyear Cloud Deal With Anthropic
Data center and AI cloud services provider IREN Limited (NASDAQ:IREN) saw its stock rise 3.67% in premarket trading following reports that artificial intelligence firm Anthropic PBC (NASDAQ:ANTHROPIC) secured an unannounced multiyear cloud contract with the company. Neither firm has publicly commented on the potential agreement.
The potential contract aligns with statements made during IREN's August earnings conference call, where Co-Chief Executive Officer Daniel Roberts announced multiyear cloud agreements with AI developers Cohere and Perplexity, alongside an unnamed frontier AI lab. Anthropic has increasingly turned to current and former bitcoin mining operators for server capacity, also contracting with firms such as Hut 8 Corp. (NASDAQ:HUT) and TeraWulf Inc. (NASDAQ:WULF).
Investors are keeping a close watch on whether IREN confirms Anthropic as its unnamed customer. Additionally, Anthropic is scheduled to meet with prospective investors on October 14 as it prepares for an initial public offering, which could highlight growing demand for specialized data center capacity across the AI sector.
Key points
- IREN Limited (NASDAQ:IREN) stock rose 3.67% in premarket trading on reports of a multiyear cloud agreement with Anthropic PBC (NASDAQ:ANTHROPIC).
- Neither IREN Limited nor Anthropic PBC has publicly confirmed or commented on the cloud services deal.
- IREN previously disclosed multiyear cloud contracts with Cohere, Perplexity, and an unnamed frontier AI lab.
- Anthropic is utilizing former and current bitcoin miners for cloud capacity, including Hut 8 Corp. (NASDAQ:HUT) and TeraWulf Inc. (NASDAQ:WULF).
- Anthropic is scheduled to meet with prospective investors on October 14 in preparation for a planned initial public offering.
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Why did IREN stock rise in premarket trading?
IREN Limited stock rose 3.67% in premarket trading following reports that AI lab Anthropic PBC signed an unannounced multiyear cloud contract with the data center provider.
Has IREN confirmed Anthropic as a cloud client?
Neither IREN nor Anthropic has commented on the reported agreement. However, IREN previously disclosed cloud contracts with Cohere, Perplexity, and an undisclosed frontier AI lab.
When is Anthropic scheduled to meet with prospective investors?
Anthropic is scheduled to meet with prospective investors on October 14 as it prepares for a planned initial public offering.